Presentation pv park_novakovo_eng_2011_v.3.0

INVESTMENT OVERVIEWFOR SALE OF ONE PHOTOVOLTAIC PROJECT IN NOVAKOVO VILLAGE, AKSAKOVO MUNICIPALITY,VARNA REGION, WITH APPROXIMATE CAPACITY OF 1 MWp Sofia • Vienna • Brussels • Moscow • Dubai June 2011

Contents:Executive summary ………………………..……………………………3Location and main parameters ................................................................ 4Licensing overview .................................................................................. .. 5Productivity estimate of Novakovo project .......................................... ...6Contacts ....................................................................................................... 7Appendix I: Land layouts and maps of the terrain ................................ 8 2

1. Executive summary  The present overview is prepared to bring forward an investment opportunity related to the sale one fully permitted project for photovoltaic (PV) power plant in Novakovo village, Aksakovo municipality, Varna region, Bulgaria with estimated total installed capacity of 1 MWp for € 40 000  The plot of land forming the Project site is situated in Novakovo village, in the North-East part of the country.  The plot of land is owned by one beneficial owner (physical person) who is willing to sell the entire, fully permitted Project capacity.  Some of the most important development milestones such as Urban Planning (“PUP”), Change of land status, Ecological Assesment and First statement for Grid Connection Conditions (from E.ON), have been passed.  The local developer will sell the entire Project, subject to a confirmed interest by a creditworthy Investor. The eventual transaction will include the ownership of the plot and all permits, including the Building permit.  The presentation below outlines the main technical, economic and investment considerations concerning Novakovo Project. A more detailed solar energy audit report, financial model or information memorandum can be offered upon request by the Investor. Inea Consulting Ltd as a Project advisor to the current Owners will readily submit any such information upon satisfactory Expression of Interest. 3

2. Location and main parameters of the project  Coordinates: N 43.35053°, E 27.84431°  Sea level: 324 m. above.  Orientation : flat terrain  Size of plot – 21 004 sq.m.  No or limited obstructions to light, no heavy winds, snow or seismic activity (data available upon request). No emissions of SOx or NOx in the region, nor dust.  Geological and hydro – geological state, showing adequate condition of the soil to sustain such structures.  Questions related to transport and construction of the project: There is direct access through asphalt and agricultural roads to the terrain, which in turn is free of buildings.  Availability of medium voltage grids 20 KV near the designed terrain at only 185 meters distance  Grid connection will require just building of a transformer station and a short distance cable power line at the expense of the connection fee.  Terms and conditions for the grid connection have been presented by E.ON.  Modules radiation fixed under 31° decline from the horizontal surface of the terrain – 1 462 kWh/m2. 4

3. LICENSING OVERVIEWA) Steps in project development and in Novakovo project particularly1. Approval of Particular Zoning Plan (PUP)Announcing the approved PUP to the neighbors of the plot; Coordination with local Health and Sanitary authority; New revision by the expert architectural council in the Municipality; Approval by the City Council Mayor’s order for validating the PUP; Quarantine period of 2 weeks before PUP enters into effect; Registration in the cadastre plan and issuance of new Plans; -2. Change of Land usagePackage of documents (PUP, new plans, expert opinions);  3. Project PhaseIssuance of a design visa; -Preliminary contract with E.ON Bulgaria (signed); -Conceptual design and Final Technical Project (el part + civil works); -Approval of the final Project by the Municipality; -Building permit; -B) Steps in Grid Connection and Procedure to the Distribution Company (E.ON)1 Application to the Distribution Company for connection to the grid 2 Response to the application, to serve the Design Visa 3 Request for terms and conditions for connection to the grid 4 Receipt of a Connection opinion with the terms and conditions 5 Request for preparation of a Preliminary Contract for Connection -6 Signing the Preliminary Contract for Grid Connection -7 Filing a Request for signing a Grid Connection Agreement -8 Signing a Grid Connection Agreement -9 After final working, coordinating with the Distribution Company -10 Filing a Request for signing a Power Purchase Agreement -11 Signing a Power Purchase Agreement -Note: With “” are marked finished phases for the Novakovo project, with „-“ notfinished. 5

4. Productivity estimate of Novakovo project 6

5. Contacts:Attn: Ilko IlievInea Consulting Ltd9, Maria Louisa Blvd., 3rd floor9000 Varna, BulgariaTel: +359 52 91 60 56Fax: +359 52 302 508Mob:+359 896 833 044Mob:+359 887 342 475e-mail: ilko.iliev@ineaconsulting.eu 7

Appendix I: Land layouts and maps of the terrainSouth South-East East North-East North North-WestWest South-West 8

Presentation pv park_novakovo_eng_2011_v.3.0

by primevarna on Aug 24, 2011

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